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China Seeks Road, River Route Via Ayeyarwady for Economic Corridor

China is planning to build vital trade and logistics links with Myanmar along the Ayeyarwady River as part of the China-Myanmar Economic Corridor (CMEC) to bypass poor road infrastructure. Proposed by China in November 2017 as part of its global Belt and Road Initiative, the CMEC is expected to connect China’s Yunnan Province with Mandalay […]

Myanmar has 2,642 Filling Stations Across the Country

More than 250 filling stations were allowed within ten months in 2019, bringing Myanmar’s total count to 2,462 filling stations across the country, according to figures from the Ministry of Electricity and Energy. There are 94 filling stations in Nay Pyi Taw, 186 filling stations in Yangon Region, 647 filling stations in Mandalay Region, 214 […]

Myanmar Startups Receive Investor Funding to Expand

Kone Si, a Yangon-based on-demand trucking start-up, has received a six-digit sum investment for nationwide expansion from Yangon Capital Partners (YCP), a Myanmar-focused venture capital under Trust Venture Partners, a local financial advisory firm, and Nest Tech, Vietnam-based venture capital company. This is the second round of investment for Kone Si after it initially received […]

Speculative Yangon City Mega-Project Draws ‘White Elephant’ Concerns for Myanmar

YANGON: On the western bank of the muddy Hlaing River, development and prosperity is a distant view. It can be seen across the expanse of water in the rising apartment blocks, office buildings and grinding industry. Over there is Yangon proper, a city of some six million people and the economic hub of Myanmar. Over […]

Singapore Businesses see Myanmar as ‘Potential Gold Mine’

Myanmar is a “potential gold mine” and the “last frontier for” investors despite its low ranking in ease of doing business, said a Singaporean investor at a business to business matchmaking event in early November. MyanmarBizConnect Group, a local business matchmaking group, the Singapore’s Association of Small and Medium Enterprises (ASME) and Malaysia’s RHB Bank […]

AirAsia Group Seeks Partners in Cambodia, China, Myanmar

After a brief halt, AirAsia Group has resumed its overtures to partners in Cambodia, China, and Myanmar as it seeks to found new franchise units in these countries. However, it has abandoned plans to launch a unit in Viet Nam, Group Chief Executive Officer Tony Fernandes told Nikkei in an interview. Fernandes added that the […]

Better Bank Services, Enforcement Needed for Remittance Licences to Work

In an attempt to shrink the volume of illegal money transfers between Myanmar and its neighbours, the Central Bank of Myanmar (CBM) last week announced the availability of official remittance licences. The move, which commenced on November 15, is aimed at facilitating the legal movement of money by traders and migrant workers based overseas into […]

Time to Deliver

The Myanmar government knows it needs to improve the country’s economic performance and extend the benefits of development more evenly across society. With elections only a year away, the ruling National League for Democracy (NLD) needs some big wins to prove to the country’s entrepreneurs and the urban middle class that it is pro-business. In […]

Farmers have Shirked Loan Repayments Since 2012

Farmers who owe some K200 billion to state-owned Myanmar Agriculture Development Bank (MADB) have not repaid their debts since 2012, according to bank records. Most of the farmers are from Ayeyarwaddy, Bago and Yangon. “These farmers need to pay what they owe to the bank. Currently, our situation is such that savings levels have fallen […]

Lottery Ticket Price Increases due to other Expenses: Sale Agents

  Lottery tickets prices are increased due to other expenses, according to lottery ticket sale agents. “We bought them from big lottery shops with the price of Ks1,097 per ticket. But we have to made packaging and we also cost rental fee and labour charges for shop,” said a sale agent of Moe Yan Shwe […]